Homework Answers
Answer for the above transactions -
Stockholder's Equity - C. Increase of $95,000.
Explanation -
1. Issuance of Stock increase the Stockholder's Equity by $200,000.
2. Payment of Accounts Payable does not impact the Stockholder's Equity.
3. Payment of Salaries Expense reduce the Stockholder's Equity by $105,000
Stockholder's Equity = $200,000 - $105,000 = $95,000
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2) Record the issuance of 560,000 shares of preferred stock for
$22 per share.
3) Record the purchase of 110,000 shares of its own common stock
for $26 per share.
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